The 10-second takeaway
For the quarter ended June 30 (Q2), MAKO Surgical met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. GAAP loss per share increased.
Margins contracted across the board.
MAKO Surgical reported revenue of $28.2 million. The 11 analysts polled by S&P Capital IQ expected a top line of $28.5 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $23.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at -$0.42. The 11 earnings estimates compiled by S&P Capital IQ predicted -$0.20 per share. GAAP EPS were -$0.42 for Q2 compared to -$0.20 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 59.5%, much worse than the prior-year quarter. Operating margin was -45.3%, 940 basis points worse than the prior-year quarter. Net margin was -69.9%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $33.5 million. On the bottom line, the average EPS estimate is -$0.12.
Next year's average estimate for revenue is $127.1 million. The average EPS estimate is -$0.67.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,224 members out of 1,271 rating the stock outperform, and 47 members rating it underperform. Among 325 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 316 give MAKO Surgical a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MAKO Surgical is outperform, with an average price target of $14.38.
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